Elevated Capital Advisors LLC Reduces Holdings in Regions Financial Corporation $RF

Elevated Capital Advisors LLC cut its position in Regions Financial Corporation (NYSE:RF) by 56.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,324 shares of the bank’s stock after selling 19,720 shares during the quarter. Elevated Capital Advisors LLC’s holdings in Regions Financial were worth $463,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in shares of Regions Financial by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,837,339 shares of the bank’s stock valued at $862,792,000 after acquiring an additional 215,061 shares in the last quarter. Victory Capital Management Inc. grew its stake in Regions Financial by 68.9% during the 4th quarter. Victory Capital Management Inc. now owns 22,836,163 shares of the bank’s stock valued at $618,860,000 after purchasing an additional 9,312,449 shares in the last quarter. Invesco Ltd. grew its stake in Regions Financial by 3.1% during the 4th quarter. Invesco Ltd. now owns 19,348,237 shares of the bank’s stock valued at $524,337,000 after purchasing an additional 573,659 shares in the last quarter. Morgan Stanley raised its position in shares of Regions Financial by 1.3% in the 4th quarter. Morgan Stanley now owns 18,356,400 shares of the bank’s stock valued at $497,459,000 after purchasing an additional 231,924 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of Regions Financial by 75.7% in the 1st quarter. First Trust Advisors LP now owns 13,358,969 shares of the bank’s stock valued at $348,936,000 after purchasing an additional 5,754,487 shares in the last quarter. Hedge funds and other institutional investors own 79.39% of the company’s stock.

Regions Financial Trading Up 0.8%

Shares of NYSE RF opened at $31.91 on Friday. Regions Financial Corporation has a 12-month low of $22.70 and a 12-month high of $32.47. The company has a market cap of $27.18 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of 1.21 and a beta of 1.00. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26. The stock’s 50 day simple moving average is $30.44 and its 200 day simple moving average is $28.70.

Regions Financial (NYSE:RF) last issued its earnings results on Friday, July 17th. The bank reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.05. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. Regions Financial had a return on equity of 12.88% and a net margin of 23.33%.The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same period last year, the company earned $0.60 earnings per share. Equities research analysts expect that Regions Financial Corporation will post 2.63 EPS for the current year.

Regions Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a $0.30 dividend. This is a boost from Regions Financial’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.8%. Regions Financial’s dividend payout ratio is 43.27%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on RF shares. Royal Bank Of Canada restated an “outperform” rating and issued a $34.00 price target on shares of Regions Financial in a research note on Monday, July 20th. Citigroup boosted their target price on shares of Regions Financial from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Regions Financial in a research report on Friday, July 17th. Robert W. Baird reiterated an “underperform” rating and issued a $28.00 price target on shares of Regions Financial in a research note on Monday, July 6th. Finally, Stephens initiated coverage on Regions Financial in a research note on Monday, June 15th. They set an “equal weight” rating and a $31.00 price objective on the stock. Six investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $32.24.

Regions Financial Company Profile

Regions Financial Corporation (NYSE: RF) is a U.S. bank holding company headquartered in Birmingham, Alabama, that provides a broad range of banking and financial services. Its primary banking subsidiary, Regions Bank, serves retail and commercial customers through a combination of branch and ATM networks, digital channels and relationship-based delivery. The company offers deposit accounts, consumer and commercial loans, mortgage origination and servicing, and payment and treasury services.

In addition to core banking, Regions offers wealth management, trust and brokerage services, insurance solutions, and capital markets capabilities to corporate and institutional clients.